CMA CGM has acquired a stake of 50% minus one share in Spain’s Total Terminal International Algeciras (TTIA), which helps to consolidate the group’s position in the Strait of Gibraltar.
TTIA is a multi-user facility with an annual capacity of 1.7m teu, with the potential to double its capacity in the future, and is the first semi-automatic terminal in the Med Area.
It consists of a 30 ha container yard, an 850 m long quay and a draught of 18 m as well as eight ship-to-shore (STS) cranes.
Christine Cabau Woehrel, CMA CGM group executive vice president, industrial assets and operations, said: “Our investment in the TTIA terminal in Algeciras is a sign of our confidence in the region’s growth potential and reflects our desire to strengthen our service capabilities in the Strait of Gibraltar.
“This new equity position in one of the Mediterranean’s busiest ports also strengthens the CMA CGM Group’s status as a leading port terminal operator.”
Located at the crossroads of trade between Asia, Mediterranean and Northern Europe, TTIA is capable of accommodating the largest containerships in CMA CGM’s fleet.
The CMA CGM Group has held a position via Terminal Link in Tangiers, Morocco, Eurogate terminal since 2006.
Every year, the group operates close to 1,200 calls at ports in the Strait of Gibraltar which is one of the world’s busiest commercial shipping lanes.